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News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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After the Bust, Are Bitcoins More Like Tulip Mania or the Internet?...
The Coalition for Responsible Business Finance (CRBF) has announced it will join the Innovative Lending Platform Association (ILPA) in efforts to more broadly support lending for small businesses; the ILPA's network is primarily led by existing members, OnDeck, Kabbage and CAN Capital; with the merger of the two organizations, the ILPA will gain representation from the National Federation of Independent Business, the National Small Business Association, the Small Business & Entrepreneurship Council, the US Chamber of Commerce and the Association for Enterprise Opportunity; the expanded ILPA will provide even greater resources for advancing online small business lending education, advocacy and best practices; the ILPA is most well known for its work on introducing the SMART Box™ comparison tool for small business lenders; with the merger of the two organizations, the ILPA has also developed an updated industry code of ethics, leveraging the work previously done by the CRBF. Source
NEW! LendIt Fintech USA has expanded to a third day filled with six workshops running from 9:00AM - 1:00PM on April 11. Each workshop will be led by expert panelists and will provide training and case study discussions. ConsenSys Academy will be conducting the Blockchain workshop featuring intense learning on this headlining topic. Other workshop themes include Financial AI, Bank Technology, Success Through Diversity, RegTech, and Sales & Marketing. Workshops are available to all registered attendees. Three days away at Moscone in San Francisco. Register here
American Banker outlines Amazon’s current offerings in financial services and the recent rumors around new products including checking accounts, small business credit cards and mortgages. Source
Looking to stay competitive, Barclays has announced a new digital investment platform that promises to lower fees for investment services; the platform will be available to existing customers in 2017, providing an upgraded dashboard for viewing checking, savings and investment accounts, also adding increased capabilities for direct investments; this will help the bank keep in line with recent fintech innovation as robo advisors are becoming a bigger force in the wealth management space. Source
Here are the most read news stories from our daily newsletter today:...
News of Amazon in talks with JPMorgan Chase and Capital One to offer a checking account product has brought up a number of regulatory questions; key questions include who owns the customer, what is Amazon’s role in the accounts, who regulates Amazon in this instance and will Amazon need to become a bank; while details of the deal are not fully known regulators will be keeping a close eye on the partnership. Source.
Digital only banks have certainly attracted the attention of incumbents as they look to keep up with customer experience innovation; in the past year banks like Chase, RBS and others have started creating their own digital only brands; the digital only banks have been able to more easily create online marketplaces for products, better options for traveling and mobile workers and they have made the customers a part building the experience; this more nimble, quicker way of building has put pressure on big banks to keep up as many sizable banks have many layers of compliance and process to build. Source.
A report from marketplace lender Funding Options says UK SMEs owe $3.25 billion in value added taxes (VAT); a leading factor affecting tax payments is late B2B payments creating an even greater opportunity for alternative financing in the region; Funding Options is promoting alternative solutions to help SMEs better manage their business taxes. Source